Vol. 2, No. 2 March 2005

 

Advice for Siblings:

Elder Law Considerations

By Herbert D. Hinkle, Esq. and Valerie A. Powers Smith, Esq.


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a disabled son or daughter (regardless of age) without penalty. Tax issues still apply and the transfer must be made by way of a special needs trust with additional features necessary to comply with this unique federal law. Specialized legal consideration is needed to preserve assets. Without a special needs trust, the transfer will qualify the parents for Medicaid but will result in the disabled sibling being disqualified.

3. Durable Power of Attorney - How can a parent transfer assets if he/she is now or becomes incapacitated? A power of attorney that is properly drafted can enable a transfer to take place even if the parent is incapacitated.

 

©2005 Copyright

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With offices in New Jersey and Pennsylvania, the Attorneys of Hinkle & Fingles, Attorneys at Law have many years of experience providing expert counsel and legal services to families of people with disabilities and seniors. The firm's attorneys have argued many of the precedent setting cases affecting people with disabilities in New Jersey and Pennsylvania.

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